Interest in the notion of the possible financial sacrifice suffered by socially responsible investment (SRI) fund investors for considering ethical, social and environmental issues in their investment decisions has spawned considerable academic interest in the performance of SRI funds. Both the Australian and international research literature have yielded largely mixed results. However, several of these studies are hampered by methodological problems which can obscure the significance of reported results, such as the use of small sample sizes, inconsistencies in the time (...) frames selected to analyse performance and different modelling frameworks used to estimate investment returns. This study attempts to redress some of these issues by investigating the returns performance of 89 ethical funds in Australia over the period 1986–2005. Using a multi-factor CAPM model [Fama, E. F., and K. R. French (1996) J. Finance 51(1), 55] (which controls for factors such as size, book-to-market value and momentum) we find that ethical funds significantly under-perform the market in Australia, particularly in the most recent 5 years of our sample period (2000–2005). Risk adjusted returns (using Jensen’s alpha) indicate that average annual underperformance is around 1.52% in the 2000–2005 period for our sample and .88% over the whole sample period. Our results contrast with many previous studies (both Australian and international), which have not found statistically significant differences in the performance of ethical funds relative to market benchmarks and/or a matched sample of conventional funds. (shrink)
There is a growing body of literature on ethical or socially responsible investment across a range of disciplines. This paper highlights the key themes in the field and identifies some of the major theoretical and practical challenges facing both scholars and practitioners. One of these challenges is understanding better the complexity of the relationship between such investment practices and corporate behaviour. Noting that ethical investment is seldom characterised by agreement about what it actully constitutes, and that much of the extant (...) research focuses on a narrow set of issues, the paper argues that there are benefits associated with examining ethical investment as a process. (shrink)
The term “moral heuristic” as used by Sunstein seeks to bring together various traditions. However, there are significant differences between uses of the term “heuristic” in the cognitive and the social psychological research, and these differences are accompanied by very distinct evidential criteria. We suggest the term “moral heuristic” should refer to processes, which means that further evidence is required.
This is the first book that attempts to analyze and define the metholodology and values of contemporary accounts of adjudication, which can be divided into orthodox philosophies on the one hand and heretical accounts on the other. The author offers an incisive and original analysis of how these supposedly incompatible accounts actually differ.
The mineral resources sector is critical to Australia''s economic and social well-being. Minerals and energy have a value of $30 billion in export revenues, providing 50 percent of Australia''s merchandise exports. The industry is characterized by substantial capital investment and very long lead times for project developments and a very competitive international market. The future direction and location of the industry is inextricably linked to long term exploration activities. The industry is faced with a far more complex set of environments (...) than most. The paper identifies the range of complex issues and the wide variety of players using a stakeholder analysis. By monitoring such interactions, and knowing the objective set of the parties, a guide could be established to define moral and ethical frameworks for each interaction. (shrink)
The way we understand language diversity, how languages differ in representing reality, affects our approach to understanding linguistic relativity, how that diversity affects thought. Historically, researchers divided over whether the diverse representations of reality across languages were natural or conventional, but all tacitly assumed an optimal fit between language and reality. Twenrieth century anthropological linguists interested in linguisric relativity have questioned this assumption and sought to characterize “reality” without it by using domain- or structure-centered approaches. Arguments are presented favoring structure-centered (...) approaches, along with a case illustration. A concluding discussion emphasizes the broader significance of language diversity in human development. (shrink)
Polygyny does not necessarily entail sexual selection of men. All factors that affect the operational sex ratio must be considered. Data from contemporary hunter-gatherers indicate higher mortality rates in men than in women, and lost female reproductive time. If sexual selection did occur in ancestral hunter-gatherers, it was probably men selecting women and not women selecting men.
What are ethics? -- News : towards a definition -- Morality of reporting -- The good journalist -- Truth, accuracy, objectivity and trust -- Privacy and intrusion -- Reputation -- Gathering the news -- Reporting the vulnerable -- Deciding what to publish -- Taste and decency : harm and offence -- Professional practice -- Regulation -- History of print regulation -- History of broadcast regulation -- Codes of conduct as a regulatory system -- Press regulation systems in the UK and (...) Ireland -- Broadcast regulation systems in the UK and Ireland -- The experience abroad. (shrink)
Dialogues, by Plato.--Nichomachean ethics, by Aristotle.--Novum organum, by Francis Bacon.--Principles of philosophy, by René Descartes.--Ethics, by Baruch Spinoza.--An essay concerning human understanding, by John Locke.--The critique of pure reason, by Immanuel Kant.--The world as will and idea, by Arthur Schopenhauer.--Beyond good and evil, by F. W. Nietzsche.--Pragmatism, by William James.--Creative evolution, by Henri Bergson.
In what, if any sense are our torts and our breaches of contract 'wrongs'? These two branches of private law have for centuries provided philosophers and jurists with grounds for puzzlement and this book provides both an outline of, and intervention in, contemporary jurisprudential debates about the nature and foundation of liability in private law.
This essay begins where Alasdair MacIntyre's After Virtue begins: facing a moral world in ruin. MacIntyre argues that this predicament leaves us with a choice: we can follow the path of Friedrich Nietzsche, accepting this moral destruction and attempting to create lives in a rootless, uncertain world, or the path of Aristotle, working to reclaim a world in which close-knit communities sustain human practices that make it possible for us to flourish. Jeff Frank rejects MacIntyre's framework and in this essay (...) attempts to create an alternative path, one of moral repair. Through a close reading of several poems from Robert Frost's North of Boston, Frank develops the notion of moral repair and describes its ethical and educational implications. (shrink)
This paper begins with a discussion of Stanley Cavell’s philosophy of language learning. Young people learn more than the meaning of words when acquiring language: they learn about (the quality of) our form of life. If we—as early childhood educators—see language teaching as something like handing some inert thing to a child, then we unduly limit the possibilities of education for that child. Cavell argues that we must become poets if we are to be the type of representatives of language (...) that education calls for. In the final section of the paper I discuss the work of Lucy Sprague Mitchell, someone who developed an approach to language teaching that overlaps in interesting ways with Cavell’s approach in The Claim of Reason. (shrink)
This is the first volume in the four-volume edition of The Works of Lucy Hutchinson, the first-ever collected edition of the writings of the pioneering author and translator. Hutchinson (1620-81) had a remarkable range of her interests, from Latin poetry to Civil War politics and theology. This edition of her translation of Lucretius's De rerum natura offers new biographical material, demonstrating the changes and unexpected continuities in Hutchinson's life between the work's composition in the 1650s and its dedication in (...) 1675. Hers is the first complete surviving English translation of one of the great classical epics, a challenging text at the borderlines of poetry and philosophy. For the first time, the Lucretius translation is made available alongside the Latin text Hutchinson used, which differs in innumerable ways from versions known today. The commentary provides multiple ways into further understanding of the translation and its contexts. Written at a momentous period in political and literary history, Hutchinson's Lucretius throws light on the complex transition between 'ancient' and 'modern' conceptions of the classical canon and of natural philosophy. It offers a case study in the history of reading, and more specifically of reading by a woman. Through close comparison with three contemporary translations, this edition situates Hutchinson's version in the context of the shifting poetic languages of the seventeenth century, and facilitates an approach to Lucretius' often rebarbative Latin. It further demonstrates the remarkable ways in which Hutchinson's engagement with this 'atheistical' poem leaves deep traces on her later, militantly Calvinist prose and verse. (shrink)
According to Aristotle, "to be learning something is the greatest of pleasures not only to the philosopher but also to the rest of mankind," (Poetics 1448b). But even as he affirms the unbounded human capacity for integrating new experience with existing knowledge, he alludes to a significant exception: "The sight of certain things gives us pain, but we enjoy looking at the most exact images of them, whether the forms of animals which we greatly despise or of corpses." Our capacity (...) for learning is happily engaged in viewing representations of painful objects, but not, it seems, in viewing the objects themselves. When an experience is intensely painful, what then is a rational animal to do? We can neither disable our learning process, nor erase its traces. In the face of intense pain, horror, or terror, learning and remembrance cause no pleasure but rather persistent psychological pain and disruption. The memorious mind reverberates with trauma. (shrink)
Sharvy’s puzzle concerns a situation in which common knowledge of two parties is obtained by repeated observation each of the other, no fixed point being reached in finite time. Can a fixed point be reached?
This document collects discussion and commentary on issues raised in the workshop by its participants. Contributors are: Greg Frost-Arnold, David Harker, P. D. Magnus, John Manchak, John D. Norton , J. Brian Pitts, Kyle Stanford, Dana Tulodziecki.
* Fascinating topic in the philosophy of mind and action * Changes the focus of, and gives fresh momentum to, current discussions of self-identification and self-reference * Rigorous discussion of rival views Lucy OBrien argues that a satisfactory account of first-person reference and self-knowledge needs to concentrate on our nature as agents. She considers two main questions. First, what account of first-person reference can we give that respects the guaranteed nature of such reference? Second, what account can we give (...) of our knowledge of our mental and physical actions? Clearly written, with rigorous discussion of rival views, this book will be of interest to anyone working in the philosophy of mind and action. (shrink)
Putting the ‘empiricism’ in ‘logical empiricism’: the director’s cut Content Type Journal Article DOI 10.1007/s11016-010-9444-x Authors Greg Frost-Arnold, Department of Philosophy, Hobart and William Smith Colleges, Geneva, NY 14456, USA Journal Metascience Online ISSN 1467-9981 Print ISSN 0815-0796.
This paper gives an interpretation of Kant's argument for transcendental idealism in the Transcendental Aesthetic. I argue against a common way of reading this argument, which sees Kant as arguing that substantive a priori claims about mind-independent reality would be unintelligible because we cannot explain the source of their justification. I argue that Kant's concern with how synthetic a priori propositions are possible is not a concern with the source of their justification, but with how they can have objects. I (...) argue that Kant's notion of intuition needs to be understood as a kind of representation which involves the presence to consciousness of the object it represents, and that this means that a priori intuition cannot present us with a mind-independent feature of reality. (shrink)